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Dutch to meet emissions target due to Covid-19 impact – ING

09/04/202010:19CO2

The Netherlands is likely to meet its target of cutting carbon emissions by 25% on 1990 levels by year end due to the impact of the coronavirus on industrial output, said Dutch banking group ING on Wednesday.

The target – which the country had been on track to miss before the pandemic curbed economic activity – was upheld by the Dutch Supreme Court last December, which set a figure of 166m tonnes for 2020 emissions.

Dutch emissions stood at 190m tonnes of CO2 in 2018, falling to 183m tonnes last year.

Crude oil futures turned higher on Thursday, shrugging off an unexpected rise in U.S. crude stockpiles as traders focused on falling gasoline stocks and a further decline in crude stored at the New York Mercantile Exchange’s delivery hub in Cushing, Oklahoma. Moreover, expectations for further oil outputs cuts by Russia starting from July added to the upbeat sentiment.